Look Up Ventures

Our portfolio companies are gaining momentum. Recently, Sirona Technologies has been selected to join the Google Startups for Sustainable Development Program. Alongside other sustainability- and climate-focused ventures, they will leverage Google's expertise and resources to accelerate their Direct Air Capture (DAC) roadmap. Congratulations to Thoralf Gutierrez, Gauthier LIMPENS, and the team. Well done!

We always get excited when startups, industry, academia, and the government join forces to drive the green transition. This time around, our portfolio company, Rock Flour Company is at the center of attention: Congrats to the team for securing EUR 2m from GUDP - Grønt Udviklings- & Demonstrationsprogram for their project 'Green Landbrug.'  Now, let’s spread the magic of Greenlandic Rock Flour over the fields of Denmark, and beyond, alongside Novonesis, SEGES Innovation, the Danish Technological Institute, Saltofte Gods, Land-CRAFT - Center for Landscape Research in Sustainable Agricultural Futures and Københavns Universitet - University of Copenhagen!

We love pragmatic solutions to climate urgency. We love Sirona Technologies. Rooted in stellar execution and a top tier engineering team, Sirona Technologies is moving fast towards their target of 1 million tons of CO2 captured by 2030. We’re excited to be part of this journey alongside Thoralf Gutierrez, Gauthier LIMPENS, Pierre-Louis Christiane and the team, and look forward to work with our fellow investors from LocalGlobe, XAnge, Satgana, Renaud Visage, VOYAGERS.io, and Syndicate One. Let’s take Sirona to the next level!

The capital for scaling climate tech is available, but we need to rethink how to attract it. 30 individuals from startups, industry, academia, and the finance sector. 3 inspiring discussions. 1 room full of purpose. Once again, we gathered a select group of people for the LUV Roundtable to discuss how to navigate the capital-intensive scaling journey of deep tech startups. This time, we explored how the ecosystem can unlock fit for purpose funding to scale first- and next of a kind facilities. A special shoutout to our speakers, Sofia Graflund, Anders Spohr, and Tim Woodcock, for sharing their valuable insights and emphasizing: 1. Establishing the right project culture from the beginning. 2. Shifting mindset from technology push to market pull. 3. Leveraging off-take agreements with big, renowned corporations. The energy and discussions were truly inspiring. Thanks to Sofie Carsten Nielsen, Katrine Riisberg, and Danish Industry for hosting us (again) and enabling this unique format.

Danish deep tech thrives… …thanks to initiatives like Nucleate Denmark. As part of the larger Nucleate network, they are dedicated to fostering the next gen of deep tech leaders by transforming groundbreaking research into viable startups. Showcasing bio-based innovations like Immunite, BioHalo, SkyDye, and Idun Biologics ApS, Nucleate Denmark’s first-ever demo day yesterday demonstrated that great things can and do emerge from the ecosystem. Congrats to Nucleate Denmark and the team for hosting such a remarkable first event - here’s to many more to come!

Mud is magical. There is snow and ice in Greenland. And then there is mud. In fact, unimaginable amounts of mud are being washed out from beneath the Greenland ice sheet. Geologist Dr. Minik Rosing has spent eight years researching how this mud can help mitigate both hunger and climate change. It has been an incredible journey marked by scientific ups and downs, from the initial collection of mud to experiments with potted plants in the lab, on cabbage fields in Funen, and with corn cultivation in Ghana. Now, the Rock Flour Company converts this mud into a carbon-capturing fertilizer - aka magic mud - ready to be sold to the world. Check the comments below for the link to the documentary explaining the concept behind our recent investment. We’re thrilled to be part of the journey and excited about what comes next.

To achieve scale, deep tech startups must learn to talk business! It's inspiring to witness the increasing number of startups emerging from DTU - Technical University of Denmark and their potential to significantly shape the future. During an engaging panel discussion at the DTU Startup Day two weeks ago, Tommy Ahlers, Anna Lundin, and Anders Kjær highlighted that - while software has significantly facilitated scalability - investments in deep tech are essential to successfully navigate the green transition. Yet, only a few deep tech founders manage to bring their technology to scale, as their scientific mindset often leads to an overly narrow focus on the technology, even though investors like PreSeed Ventures, Norrsken VC, and Look Up Ventures consider the commercial side equally important. The term 'commercial' thereby extends beyond simply hiring the first salesperson. It involves market engagement from day one and securing offtake agreements, which are crucial for unlocking financing pools beyond traditional venture capital and ultimately achieving scale. The message is clear: Europe - and DTU! - are well equipped with great deep tech ventures. To scale their pledges, however, we need more bold and ambitious founders capable of talking business.

We’re excited to announce our first investment in resilient agriculture… …and rock flour it is! Leveraging Greenlandic glacial rock flour, the Rock Flour Company aims to transform agriculture with a natural, non-toxic plant nutrient solution that increases crop yields and sequesters carbon. Their rock powder has been shown to boost agricultural yields by as much as 30% and capture 250 kg of CO₂ for every ton used. Alongside our co-investors The Footprint Firm, Planetary Impact Ventures, and 2degrees, we’re proud to join Eliot Booth, Clive Eley, and Prof. Minik Rosing on this exciting journey. Let’s rock!

It's fascinating to see what industry-specific discussions can reveal about broader market dynamics… This week, our partner Nicolaj Reffstrup spent two days at the Rethinking Materials Summit in London, engaging closely with leaders at the forefront of alternative material technologies. We were struck by the extensive efforts of both startups and incumbent companies to tackle the industry’s pressing sustainability issues. Yet, innovative technologies struggle to scale sufficiently to make a significant impact. Why? Scaling is expensive. Investors hesitate to commit the necessary funds due to the high risks associated with both the tech 𝘢𝘯𝘥 the market - a phenomenon observable beyond alternative materials across nearly every industry seeking a green transition. We believe that standardized and aggregated off-take agreements could demonstrate sufficient market demand to unlock other pools of financing beyond traditional venture capital …and we’re on to something (stay tuned!). Ultimately, what we take away from the summit is that targeted events can provide deep insights and practical tools that transcend their immediate industry.

Bullish on deep tech?! Today at DTU StartUp Day, our partner, Tommy Ahlers, will facilitate the panel discussion 'From Lab to Market: How We Build Deep Tech Champions in Europe.' Together with panelists Anna Lundin from Norrsken VC and Anders Kjær from PreSeed Ventures, he will explore the journey from university spin-outs to venture success, sharing Look Up Ventures’ perspective on bridging the gap and building robust ecosystems to foster significant deep tech advancements in Europe.